tv Business - News Deutsche Welle June 20, 2018 1:15pm-1:31pm CEST
marriage those who want to marry for love to. a clash that's shaking families a cancer society to the core. my father will be angry sometimes i think the way that. commandos starch johnny d.w. . the leaders of france and germany are hailing it as a new chapter for the euro so i'm going to natalie and madeleine not caught agreed on the eurozone budget but metals conservative coalition partners up in arms to get the view from brussels on the front for stock exchange. also on the show brussels protest for retaliatory terrorists on the. good starting on friday we talk of the
general manager of the american chamber of commerce. german chancellor angela merkel is facing new anger from her conservative coalition partners this after she hammered out a proposal with french president emmanuel mccall which would see greater financial integration in the euro zone according to the deal the e.u. would set up a euro zone budget to boost investment in the bloc and marco also agreed to plans to turn the european stability mechanism into a monetary fund to help isolate the euro from future crisis however merkel warned that moves toward greater integration can only occur when banks have reduced risk in the financial sector so this is what they were talking about and i would like to discuss this now with our european union correspondent the isil which joins us in brussels and our financial market correspondent who joins us in frankfurt hello to
both of you so bob what i'd like to start with you is this is the kind of reform the eurozone needs and will the other seventeen euro zone members agree to that. it is probably monica a first step and it is largely we need to emphasize that in a symbolic step because i'm going market had to give something some sort of success to. who had really stayed a lot within france on this reform all for europe and particularly the eurozone so there had to be some sort of concession this is what she gave him and the question is what will it be filled with now the idea here is that it will start out small there is talk about a smallish single digit billion some and that is something that can be found in some bodies crocodile fund somehow somewhere that will not draw the boats financially and so the excitement in berlin probably shouldn't be too high ok so
you're talking about the famous baby steps. likes to take i made over to you what's the view there from the financial world and also the business world do they think that this is the kind of reform the eurozone would need and makes it more stable. or there's some criticism but there's also some agreement and. none of the voices i've heard are totally in agreement with what has come out roberts it's just said you can find those twenty billion a crocodile fun but still the kind of agreement that the two reached is enough to lead claimants foods the president of the evil institute and renowned economic institute here to say that you're increasing solidarity but you're reducing the conditions you're softening the conditions under which solidarity is going to be fine and so he sees a reason for criticism without another economist the chief economist at a private thank. you on track remains on track for reform but with baby steps yet
these baby steps will lead to reform in the end and interestingly of the engineering industry which is hugely. porting it once more reform at once a deeper reform it says expand this to migration policy to defense and to digitalisation and it's missing those elements in this agreement ok well. next week at the end of next week they'll be the e.u. summit and i'm sure that those topics that you just mentioned will certainly be on the table will this paris berlin agreement will that help to stay stabilize the unity within the e.u. or will it poor fuel into the fire. both in fact because we always know of paris and berlin embrace too tightly there will be resistance and people will run around and say we don't want to be dominated by them but this for many countries is a win win situation particularly for instance italy and so they should in the end
agree and we know the european summit does are always horse trading everybody everything is being thrown on the table and then deals are being made and so i would think it is unlikely that america and mike can push through this your own budget which is just as you said it first step probably in the right direction you're right a baby step you're of reform there in the making but obviously in brussels and leave us in frankfurt thank you to both of you. we want trade relations between the u.s. and europe on to civvy a strain certainly since washington post tariffs on steel and on the many of the e.u. has taken a complaint to the world trade organization on the block also decided to retaliate by putting tariffs on u.s. steel as well as other products including peta cranberries orange juice and whiskey and the counter terrorists go into effect this friday. american whiskey tends to fly off the shelves at this liquor store in berlin prices start at
about twenty five euros a bottle of the finest stuff can set you back as much as eighty. some fear that tariffs on u.s. imports including bourbon of course will lead to price hikes but store owner sebastian glass is taking the levees in his stride they're due to come into effect on july the first but for him it's all about pivoting to other regions after all american whiskey isn't the only kind on offer. we're in for life we might focus more on german whiskey isn't the only kind to come from the us there's rye as well but there are very good german right brands too right whiskey is really in fashion so you can get people interested in it it doesn't have to be american whisky was there. since the start of june there have been growing worries about an all out trade war on june the first the us imposed duties of ten percent on steel and
twenty five percent of our minium from here up and europe has now retaliated with tariffs designed to target u.s. states that main the vote republican a strategy designed to hit the u.s. president's support base the raft of new judi's on emblematic american exports like harley davidson bikes and whiskey will affect states like missouri and pennsylvania as well as the whiskey heartland in the south mississippi kentucky and tennessee. president donald trump is head to the possibility of further sanctions directed in europe this time affecting cars that would be a massive blow to big producers like germany for now it's difficult to tell where the tit for tat measures will lead and as the relationship between the us and the european union continues to deteriorate it won't just be whiskey lovers who are affected. let's talk a little bit more about that relationship i'm joined by. even inmates and general manager of the american chamber of commerce and here in germany's
a physical from your perspective what is the state of play right now between the u.s. and germany well it is difficult needless to say and the companies on both sides of the atlantic actually american and german companies are really worried because of the volatility that has come into play no and that is coming from the u.s. administration when it comes to trade so you've conducted a among. men book companies both germany and u.s. companies of course what do they say what to do they want what do they hope governments to do to resolve the situation well i think first of all they want everyone at the negotiating table that's i think the the one thing that they all said was necessary to never leave that negotiating table and i think it's important to say that this is not only directed towards the european or german government but they are also approaching their governors and their representatives and senators at
home so it's a task for both sides and negotiating want to tear it or a transatlantic free trade agreement which has been shelved still under the obama administration what do they want to negotiate first of course because it's the actual situation right now is tariffs but in the long run eighty three percent of our members are actually in favor of a transatlantic trade agreement so they say this should definitely be there somewhere in the in the future and i think it's important that we talk about those we can take our business relations for granted anymore it's not only true for values but we have to continue showing to the u.s. administration that on the one side german businesses in the u.s. provide for a seven hundred thousand jobs invest in infrastructure and in the workforce qualification but it's also important. for our american companies that the u.s. and at ministration understands that they also profit from free markets is this
something very concrete that bilin good to do for example germany's massive traits plus not just a bone of contention of from the u.s. perspective but also from european neighbors well the companies are not so worried about the trade surplus of germany i think in general it is easier dealt with by germany at home when we look at investments that we can do in germany i think what the companies actually advocate for is also that europe states united and that europe is strong and i think that's a nother task that is on the table for our government ok so so more talks a dialogue is important from which i'm glad you look at it even in medicine general manager of the american chamber of commerce you jenny thank you so much thanks for having. now another day another high profile hack healthy crypto currency exchange
this time the victim was south korea's some exchange direct to say a series of overnight breaches so hackers make off with thirty one million dollars worth of virtual currencies or ever they didn't say which coins were stolen the company behind the site has promised to compensate victims a bit some attack was just the latest in a series of digital sex raising critical question about cryptocurrency. just very briefly there's a big change within the dow after one hundred and eleven years industrial heavyweight general electric is no longer a component off the famous stock market index the company had fallen on hard times mostly due to losses in its insurance business g.e. shares have been on a downward path for years weakening the company's standing as a blue chip and that's your business update here on g.w. thanks for keeping us company.
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